Phunware (NASDAQ:PHUN) Trading Up 13.4% – Here’s What Happened

Phunware, Inc. (NASDAQ:PHUN) shares shot up 13.4% during mid-day trading on Monday . The company traded as high as $4.41 and last traded at $4.41. 1,465,942 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,174,332 shares. The stock had previously closed at $3.89.

Analyst Upgrades and Downgrades

PHUN has been the topic of a number of research reports. Ascendiant Capital Markets dropped their target price on shares of Phunware from $20.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. HC Wainwright lowered shares of Phunware from a “buy” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $6.00 in a report on Tuesday, November 12th.

Phunware Stock Up 13.4 %

The firm has a 50-day moving average price of $5.87 and a 200-day moving average price of $4.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80.

Insider Buying and Selling

In other news, Director Rahul Mewawalla sold 29,595 shares of Phunware stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $5.15, for a total value of $152,414.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phunware

An institutional investor recently raised its position in Phunware stock. Geode Capital Management LLC increased its holdings in Phunware, Inc. (NASDAQ:PHUN) by 36.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,767 shares of the company’s stock after buying an additional 30,507 shares during the quarter. Geode Capital Management LLC owned 1.00% of Phunware worth $389,000 at the end of the most recent reporting period. 7.57% of the stock is currently owned by institutional investors.

Phunware Company Profile

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.